Memorandum of Understanding signed between CBA and Visa

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30 July 2019

A Memorandum of Understanding has been signed between Central Bank of the Republic of Azerbaijan and Visa International Service Association in order to determine mutual cooperation directions in the framework of Implementation of the works, considered in the State Program on “Expansion of digital payments in the Republic of Azerbaijan in 2018-2020”, CBA told APA-Economics.

The CBA stated that sides have come an agreement on organization of joint cooperation in fields of electron trade, development of mobile payments, establishment of use opportunities of modern payment tools in various sectors of economy, and financial literacy. At the same time, it is considered to take measures aimed at holding joint lotteries in Baku and regions in order to stimulate non-cash payments, propogation of non-cash payments, promotion of modern payment solutions, conduction of analysis on assessment of current situation.

“CBA regularly supports initiatives on development of banking and digital payment and implementation of innovative financial technologies in our country, and keeps at focus of attention cooperation relations with international organizations in this field”, CBA noted.

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THE OPERATION IS BEING PERFORMED